Mayfield India Fund and SIDBIVenture have made a Rs.50 crore investment in Fourcee Infrastructure Equipment Pvt. Ltd, a provider of end to end logistics solution for liquid cargo through road and railways using its own specialized designed containers.
The funds will be used to expand the company’s tank terminals, add more designed containers and grow its infrastructure.
Commenting on the investment, Vikram Godse, Managing Director, MF Advisors, was quoted as saying: “The logistics industry in India is going through a structural change and Fourcee struck us as a company that is bringing about a transformational change in the way liquid cargo is being transported across the country.
“We are glad to be partners with a management team that is innovative and highly motivated in building a multi-modal logistics company”.
Rajesh Lihala, CEO of Fourcee, added: “Our new partnership with SIDBI Venture and MF Advisors directly supports Fourcee’s longstanding singular focus on strategically expanding our nationwide footprint and growing our infrastructure”.
FinSMEs
09/03/2010